$500 Credit Card With Bad Credit and No Deposit
The Indigo Mastercard, Destiny Mastercard, and Milestone Mastercard are great options for a $500 credit card with bad credit and no deposit. If you are approved, you are guaranteed a $700 credit limit. After the $175 annual fee is deducted, you still have $525 in available credit. That means you still have more than the $500 in available credit you are looking for, without having to make a deposit. If you have bad credit and want a $500 credit card with no deposit, these are three options to consider.
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Best Options for a $500 Credit Card With Bad Credit and No Deposit
These three unsecured credit cards offer a guaranteed $700 credit limit if you are approved. After the $175 annual fee is deducted, $525 in available credit remains. That is why they are options for people who specifically want at least $500 of available credit without making a deposit.
If you want a more detailed explanation of how a $700 credit limit can leave you with more than $500 available without a deposit, see our guide to $500 credit card limits with bad credit and no deposit.
Indigo Mastercard
The Indigo Mastercard for Less than Perfect Credit gives approved applicants a guaranteed $700 credit limit. After the $175 annual fee is deducted, you still have $525 of available credit. No deposit is required.
➤ Read Our Indigo Mastercard Review
Destiny Mastercard
The Destiny Mastercard gives approved applicants a guaranteed $700 credit limit with no deposit. After the $175 annual fee, $525 of available credit remains, giving you more than the $500 in available credit you are looking for.
➤ Read Our Destiny Mastercard Review
Milestone Mastercard
The Milestone Mastercard gives approved applicants a guaranteed $700 credit limit without requiring a deposit. After the $175 annual fee is deducted, $525 of available credit remains, so you still have more than $500 available.
➤ Read Our Milestone Mastercard Review
Ready to see the available credit card offers? ➤ See $500 Credit Card Offers for Bad Credit With No Deposit
Why You Still Have $500 of Available Credit
The math is straightforward: $700 credit limit - $175 annual fee = $525 of available credit. Because the guaranteed credit limit is $700 once you are approved, the annual fee still leaves you with more than $500 of available credit. And because these are unsecured cards, no deposit is required.
Looking for a $500 Credit Card With No Deposit?
If you have bad credit and are specifically looking for a $500 credit card with no deposit, these three cards offer a $700 credit limit that is guaranteed once you are approved. After the annual fee is deducted, $525 of available credit remains.
If you are still comparing your options, our guide to getting a $500 credit card limit with bad credit explains both secured and unsecured ways to get $500 of credit and what to look for before applying.
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FICO® Credit Scores
A FICO® Score is a proprietary credit score created by the Fair Isaac Corporation (FICO). About 90% of top U.S. lenders use it to make lending decisions.
FICO® Score Ranges:
- Exceptional: 800–850
- Very Good: 740–799
- Good: 670–739
- Fair: 580–669
- Poor: 300–579
FICO categorizes scores as Poor, Fair, Good, Very Good, and Exceptional.
What is a Credit Score?
A credit score is a three-digit number (300–850) predicting your creditworthiness. Lenders use it to evaluate risk and determine rates and terms for credit.
Why it matters: A higher score can help you qualify for loans and lower interest rates. A lower score can lead to higher borrowing costs or application denials.
FICO® Credit Score Facts
- Three-Digit Number: Summarizes your credit risk.
- Range: 300–850; higher scores = lower risk.
- Data Source: Uses your credit reports from Experian, Equifax, and TransUnion.
- Industry Standard: Lenders rely on FICO for mortgages, auto loans, and credit cards.
Note: Credit scores reflect your creditworthiness but do not guarantee approval for any credit product.
Security Notice: All participating issuers use secure application systems protected by Transport Layer Security (TLS) encryption to help protect your information.
*See the online credit card applications for details about terms and conditions of credit card offers. Reasonable efforts are made to maintain accurate information. However all credit card information is presented without warranty. When you click on the " Apply Now " button you can review the credit card terms and conditions on the credit card issuer's web site.
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